Report: Hastings Entertainment saw bleak future

[TexasTowelie]

Hastings Entertainment began considering selling itself in 2012 as one of several alternatives to a forecasted future of continued losses, according to its latest Securities and Exchange Commission filing.

Hastings directors opted to pursue potential buyers for the Amarillo company after efforts to slash stores, reorganize and pare executives did not stem the retailer’s downward spiral or have “sufficient impact” to predict the company would “return to profitability in the near future,” Hastings said in a Tuesday filing.

Directors engaged SunTrust Robinson Humphrey, a corporate financial adviser, in June 2012 to evaluate the company’s strategic options.

Ultimately, the board decided to shop the chain to almost 40 potential buyers, Hastings said in the preliminary proxy statement.

More at http://amarillo.com/news/local-news/2014-04-23 .

[font color=green]Another company that failed to adapt to changes in the market.[/font]

[TexasProgresive]

1. So when Hastings goes the way of Blockbuster

Us people off the Highspeed Internet Highway will have to resort to Amazon for movies and books and if we want to rent join Netflix for the mail service, do they still do that?

[TexasTowelie]

2. If you are lucky enough that your local post office hasn't been eliminated as part of the effort to

reduce costs at the USPS. Don't worry though, UPS will gladly deliver the media content for you at a significantly higher cost.

Nothing was better than going to a store and being able to browse through and occasionally listen to the selections to determine whether you wanted to purchase an album. You could also pay cash rather than having to use a credit/debit card online so that your financial information can be stolen and musical/movie selections can be monitored so that they can bombard you with advertisements for similar products.

[blogslut]

3. What nobody is asking

...is what happens with the Internet service that Hastings bestowed to WTAMU?